The Manama Declaration 2015 on 'Entrepreneurship and Development' has called for the setting up of a special secretariat within the Arab International Centre for Entrepreneurship and Investment (AICEI) in Bahrain.

The declaration follows the conclusion of First International Entrepreneurs Investment Forum on 'Entrepreneurship and Investment for Inclusive and Sustainable Industrial Development' held under the patronage of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, said a report in the Gulf Daily News (GDN), our sister publication.

The three-day event at the Ritz-Carlton Bahrain, Hotel and Spa ended yesterday (January 21).

The declaration also proposes convening the International Entrepreneurs Investment Forum every two years in Bahrain and any country which requests to host it in order to review and follow up progress and to identify additional areas of co-operation and action to promote investment in entrepreneurship.

The proposals are a set of recommendations derived from the two-day deliberations and discussions held among the 85 experts and 650 entrepreneurs from 80 countries who participated in the forum.

The Manama Declaration has urged governments, the private sector, academia, civil society and international organisations to co-operate in undertaking the following steps to facilitate the development of entrepreneurs and small and medium size enterprises around the world:

*To take a co-ordinated and inclusive approach to promoting entrepreneurship involving all stakeholders, while noting initiatives of civil society, academia and the private sector as important entrepreneurship drivers.

*To consider partnership with the private sector in promoting entrepreneurship, generating employment and investment, increasing revenue potential, developing new technologies and innovative business models, and enabling high, sustained, inclusive and equitable economic growth while safeguarding workers' rights.

*To strengthen the capacity of national financial institutions to reach out to those who have no access to banking, insurance and other financial services, and encourage them to adopt regulatory and supervisory frameworks to facilitate the safe and sound provision of services to such populations, increase access to information and promote financial literacy, particularly for women.

*To expand alternative sources of financing and diversify retail financial systems to include microcredit and microfinance.

*To co-operate in support of technology exchange and transfer, innovation and capacity-building programmes for promoting entrepreneurship. - TradeArabia News Service